Ambode Governor to build microfinance bank for artisans, SMEs

He stated that he is passionate about ‘Made in Nigeria’ products and this project’s goal is to make business processes easier.

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Gov. Akinwumi Ambode play

Gov. Akinwumi Ambode

(Vanguard)
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Akinwunmi Ambode, Lagos state governor yesterday, February 19, 2016, during the Lagos Corporate Assembly tagged ‘A-plus meets businesshinted plans in place to set up a Microfinance bank for artisans and small business operators.

He stated that he is passionate about ‘Made in Nigeria’ products and this project’s goal is to make business processes easier.

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The governor said while answering questions that the request for the microfinance bank project has been sent to CBN and plans are being made to get the license to run.

We have met with the CBN governor and we believe we should set up a Micro-finance Bank quickly and get our license running to help the Small and Medium Entrepreneurs (SMEs) and artisans,” he said.

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Ambode added that the microfinance bank would lend money to SME’s and artisans at a 3% rate. He explained that the Employment Trust Fund established by his administration and the Micro-finance Bank would boost the state’s economy and reduce unemployment.

During this speech, he thanked Babatunde Raji Fashola, his predecessor for building the platform and promised to sustain it by holding it twice.

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